1. The uncertainty over Malaysia's economy and political situation are playing havoc with the ringgit. The Malaysian currency hit a fresh low against the Singdollar, trading at RM2.9120 to the Singdollar yesterday.
2. The outlook for property developers remains quiet as the market enters the Hungry Ghost month. July home sales were at their highest in two years, but most came from new launch High Park Residences in Fernvale. The luxury segment continues to struggle.
3. The CEO of FEO Hospitality Asset Management - trust manager of Far East Hospitality Trust - Mr Gerald Lee Hwee Keong, has upped his stake in the trust. He bought 75,000 units on Aug 14 for $49,375 and now holds 400,000 units in total.
4. Interest in penny stocks is likely to stay weak. CEFC International, which has run up significantly, took a hit after the Singapore Exchange issued a "trade with caution" warning on Friday. Apparently, about 40 per cent of buying came from a few overseas sources.
5. Another Chinese counter that soared 325 per cent on July 21 was abruptly suspended from trading yesterday. Qingmei's board asked for the suspension, saying the firm's activities had ceased. It is not clear if investors will be caught out as no prior warning was given.